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Kryso Resources PLC: Approval of Kryso Subscription Agreement
Sep. 20, 2010 11:20AM PST
Base Metals Investing Kryso Resources plc (LON:KYS), the mineral exploration and development company with gold and nickel-copper projects in Tajikistan, is pleased to announce that pursuant to the conditional subscription agreement entered into on 27 July 2010 with China Nonferrous Metals Int’l Mining Co. Ltd., notification has been received that the Subscription Agreement has been approved by the shareholders of CNMIM.
Kryso Resources plc (LON:KYS), the mineral exploration and development company with gold and nickel-copper projects in Tajikistan, is pleased to announce that pursuant to the conditional subscription agreement entered into on 27 July 2010 with China Nonferrous Metals Int’l Mining Co. Ltd., notification has been received that the Subscription Agreement has been approved by the shareholders of CNMIM.
The press release is quoted as saying:
The Subscription Agreement and the Placing remain subject to a number of conditions including, inter alia: the passing by Kryso shareholders of resolutions to authorise the board of the Company to allot the Placing Shares and to waive statutory pre-emption rights in respect of such shares at a General Meeting to be convened and held in due course by the Company; and approval by all appropriate authorities in the PRC. The number of Placing Shares is subject to adjustment if required to ensure that the number of Placing Shares subscribed for shall represent, on completion of the Placing, 29.9% of the total issued shares of the Company.